All Forum Posts by: Carlos Nunez

Oh, this is in Utah

Hi All! A friend of mine, with whom I have invested in other things before, wants to invest in the area I live in so approached me and offered for me to buy property with his money and then split earnings. (He lives out. If state). Right now I am looking to buy the first property but he will be the only one in the bank loan (already has the preapproval). So here is where I would appreciate if BP community can help me with. The realtor says that I cannot go into contract without him being the one on the contract. So the realtor wants him to have to sign everything. That is exactly what the doesn't want. He lives out is state, he is busy, and doesn't want to have to put time into this. Is the realtor right? Is there any law against that? What would be best and less costly if I need to form an LLC or so?

Thank you Tobias. In this case he is out of state and he just wants to put the money. In some I might put 50 in the purchase, but in some he says he'll buy it himself. What do you think is fair to ask when I am the one finding the deals, managing, etc?

Hi BiggerPocket community. Please could you help me with the following. A friend approached me about wanting to invest in Utah and wants to partner with me on this. This would be a first time for me, and would be interested in hearing what are some strategies used by some of you in the past. (Cost sharing, responsibilities, split of earnings) Note that I will be the one finding the deals, closing on them and managing them. We will go 50/50 and some, and others we might not.

Hi Utah BP Community! The tenants in our SFH are ending their contract early and are marketing our property to find someone to take over their contract. They have a tenant who is interested who has a Bearded Dragon. This is a first time for me. Any of you have tenants with this type of animal? Any good/bad experiences? Anything I should love worried about? Is this something people will charge a pet fee for?

Rebecca Belnap I had a tenant with a Pitbull as well and the property was well taken care of. Do agree

The more I read in the forums, the greater the variant in pet monthly fee I find. I have seen $25, $50, $100. This investment property is a 230k property with a 3-4 year old average to good quality carpet (House built in 2003, remodeled 2013). I am thinking should share in between 50-100$. Would $100 scare them off in this market? Please can you share your opinions?

This is not uncommon. The important thing is to be patient. A bad tenant can cost way more than having to wait a few more weeks. I get these bad applications often, and believe everybody does.

Greg S. Thank you. I do agree regarding cats. I have stipulated no cats in the contract. I did put something in the contract that doesn't allow for dogs and laters says terms to be further discussed. I wanted to give them the peace of mind at signing contract, since they had bought it up and I said we could talk about it and agree to terms when they knew which dog they were getting. I have had two tenants with dogs in the past, and they took very good care of the house, however that doesn't mean all will be the same and every owner will be as responsible. I have he concern that all three are on different markets Utah, Miami, Puerto Rico. The Miami market made it very easy since it's pretty common that tenants would pay a advanced fee and a monthly increase in rent. But want to hear more about Utah

Thanks Jeff Keller SHANE Veltri Gerardo Lopez Amy Beth Brandon Rindlisbacher I am considering not a pet fee (for carpet cleanup) and monthly that should cover other wear/tear like garden/walls/doors and pet insurance. But don't to make it excessive as I do like them as tenants. I should definitely check about insurance. Any ideas who offers the best pet insurance? About the breed. They mentioned they want a lab which is a big dog but are known to be good dogs. I've seen conditions where small breeds are the terrible ones. Any bad experience with labs? ....but then again that is not even confirmed because they are looking in shelters. I won't be able to see the dog